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On Thursday, the main 1703 contract of Shanghai copper opened at 45590 yuan / ton, the long and short game at the beginning of the session was fierce, copper prices around the daily moving average of 45500 yuan / ton consolidated, with the sharp depreciation of the yuan to 6.
9868, bulls entered the market in a big way, pulling the copper price up to 45970 yuan / ton, bears chose to enter the market around 46000 yuan / ton, copper prices retraced, closing at 45810 yuan / ton with a long white line, up 280 yuan / ton
.
During the day, the main force of Shanghai copper increased its position upward, and the depreciation of the yuan raised copper prices, and it is expected to test the resistance of 46,000 yuan / ton in the short term
.
In terms of the external market, London copper opened near the 5-day moving average of 5520 US dollars / ton, during the Asian session London copper stopped near the daily average of 5525 US dollars / ton, and then driven by the inner metal, copper prices rushed up to 5550 US dollars / ton and then fell, back to the daily moving average, after gaining support and pulling up again, the high touched $5568, subject to the 10-day moving average can not be pulled back after the pullback, again back to the daily average, as of 18:00, London copper reported 5545.
5 US dollars / ton
。 Intraday London copper wide range oscillation, daily moving average support performance is good, London copper trend is generally stronger than other metals, strong willingness to rise, but above both the 10-day moving average direct pressure, and 40-day moving average resistance, breaking through the double suppression still needs more momentum, expected wide range oscillation, or continue to test the 10-day moving average
.
On the macro front, on December 29, the offshore yuan fell below the 6.
98 mark against the US dollar, falling as much as 0.
15% to 6.
9823, a record low
.
The Ministry of Commerce pointed out that the Fed's future interest rate hikes may lead to uncertainty in global financial markets, and China will pay more attention
.
The US interest rate hike has no significant impact on
China's trade and foreign direct investment.
The renminbi appreciated slightly against a basket of currencies after the Fed raised interest rates
.
Too many
messages.
In terms of the market, Shanghai copper flat finishing, the market at the end of the year basically entered a state of rest, some enterprises shipped a small amount, the brand price difference is obvious, the quotation is more disordered, the supply is acceptable, the downstream continues to sporadic just need to enter the market, so that some suppliers' quotations are relatively firm, flat water copper discount is significantly narrower than the previous day, the willingness of holders to exchange cash is weakening, and the transaction is quiet
。 In the afternoon session, the market quotations decreased, and there were sporadic inquirers downstream, looking for low-priced good copper sources, but the holders' quotations were firm and stable, and the flat water copper newspaper discount 250 yuan / ton - discount 220 yuan / ton, good copper newspaper discount 200 yuan / ton - discount 180 yuan / ton, the transaction price rose to 45100 yuan / ton - 45320 yuan / ton
.
On the whole, the metal plate is collectively rebounded, copper short-term 44000 support is strong, but copper has not changed much in recent fundamentals, it is difficult to support a new high, and spot traders continue to discount in anticipation of increasing years
ago.
In terms of spot, Shanghai electrolytic copper spot reported a discount of 250 yuan / ton - 180 yuan / ton for the current month's contract, the supply is acceptable, and the downstream continues to enter the market sporadically, so that some suppliers' quotations are relatively firm, the flat water copper discount is significantly narrower than yesterday, the willingness of holders to exchange cash is weaker, and the transaction is quiet
.
